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United Oklahoma Bank

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August 3, 1990 | OSWALD JOHNSTON, TIMES STAFF WRITER
The Federal Deposit Insurance Corp. erred when it cleared a controversial Arizona businessman to buy a failed Oklahoma bank three years ago and is investigating to see whether any wrongdoing was involved, FDIC Chairman L. William Seidman said Thursday. Seidman told the Senate Banking, Housing and Urban Affairs Committee that he has instructed his agency's inspector general "to investigate whether it was just a mistake or something worse" when James M.
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BUSINESS
August 3, 1990 | OSWALD JOHNSTON, TIMES STAFF WRITER
The Federal Deposit Insurance Corp. erred when it cleared a controversial Arizona businessman to buy a failed Oklahoma bank three years ago and is investigating to see whether any wrongdoing was involved, FDIC Chairman L. William Seidman said Thursday. Seidman told the Senate Banking, Housing and Urban Affairs Committee that he has instructed his agency's inspector general "to investigate whether it was just a mistake or something worse" when James M.
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NEWS
July 22, 1990 | From Times staff and Wire reports
A man who bought 15 Texas savings and loans using only $1,000 of his own money and $70 million in loans also bought an Oklahoma bank at a good price despite failing to disclose he'd been indicted for securities fraud, the New York Times said in its Sunday editions. James M. Fail was able to buy the United Oklahoma Bank, later renamed the Oklahoma Bank, without filling out a required form, the paper said.
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